Every year there are a number of people who start up their own business and from them are nearly 500,000 women. Almost two out of every three business that come up are actually started by women and they have also proven to be more flourishing than men. They have nearly a 75 percent sure chance in any business ownership and for this main reason, the United States Federal Local and State Government are offering hundreds of programs which offer financial help including information and help to women who need to start or expand their business.
Why are Women’s Business Grants Offered?
The business grants for women are well known. There are nearly 9 million businesses owned by women and yet they receive the smallest amount of financial help from traditional sources like venture capital firms and banks. Most women usually own smaller businesses which do not require financial help of $ 250,000 and therefore there are limited financial options and the business grants are also hard to come by. Most of the businesses usually are founded using loans that require a good collateral and credit score which is hard for women to acquire. However, there are now business grants easily available for women who need to start their own business and require financial help. This business grant is offered by the US government and can be availed from any of the local government offices.
Types of Business Grants Available
The US government is offering business grants for women which can be either for existing business or to start a new business. If you need to start a new business then the business grants for this purpose would range anywhere between $ 100 to $ 5000 and even higher if you have a larger business to start. However, you can also avail government business grants for your existing business and these grants also have the same range which can also be in the same amount range. Whether you need financial help to develop or launch a new product or just need to expand into a new market or even to buy new equipments for your business the business grants available for women can help you increase your reach.
Applying for Women’s Business Grants
In order to apply for a business grant, you should be a woman who resides in any state in the United States and should be above the age of 18 years. Apart from this it also required that you make a donation of at least $ 15 as the application fee to the financial office or the women’s government office in your state. You should remember that every business grant for women is offered or awarded on the quality standards of the business plan including the application materials. As these grants are not offered to be repaid anytime in the future, there is no check for your credit history. You should make sure that you approach the right government financial office for your women’s business grants as not all of them offer you such grants and have this facility.